FirstHoldCo Plc has reported a strong financial performance for the first half of 2026, posting a profit before tax of N653.5 billion, representing an 83.5 per cent increase compared to the same period last year.
The Group also recorded gross earnings of N1.93 trillion, reflecting a 16.7 per cent year-on-year growth, while operating income rose by 25.8 per cent to N1.38 trillion.
The financial services group attributed the performance to improved operational efficiency, stronger earnings diversification and prudent risk management.
According to the company, non-interest income climbed to N497.1 billion, driven by growth in electronic banking, trade services, brokerage and funds transfer operations.
The Group’s cost-to-income ratio improved to 44.2 per cent from 50.5 per cent in the corresponding period of 2025, while impairment charges declined by 37.4 per cent.
FirstHoldCo also disclosed that FirstBank’s Capital Adequacy Ratio stood at 16.7 per cent as of June 30, 2026, with a liquidity ratio of 52.2 per cent, indicating a strong financial position.
Chairman of the Group, Femi Otedola, described the result as a significant milestone in the institution’s transformation journey, while Group Managing Director, Wale Oyedeji, said the performance reflected the resilience of the franchise and the success of strategic reforms undertaken over the past year.
The company expressed confidence in sustaining growth during the second half of the year through disciplined expansion, operational excellence and prudent risk management.
